Red Cat withdraws proposal for Steyr Motors AG transaction

Red Cat Holdings, Inc. (Nasdaq: RCAT) said it submitted and then withdrew a preliminary, non-binding proposal related to a potential transaction involving Steyr Motors AG, according to a statement from the company.

The Salt Lake City-based drone and robotics company said no definitive agreement was signed and that it currently has no active proposal outstanding with respect to Steyr Motors AG.

Red Cat said it regularly evaluates strategic opportunities, including acquisitions, partnerships, and investments, as part of its growth strategy. The company said it does not intend to comment further on market rumors, speculation, or potential transactions unless disclosure is required.

You May Also Be Interested In

• U.S. and Denmark close in on a Greenland deal - Reuters
• First Carolina Financial Services CFO to retire in January 2027
• Enablence closes C$25M private placement with Collingwood Investments